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Following a 6-month absence, the MetaTrader 4 and MetaTrader 5 trading apps are back on the app store for iOS devices.
As we reported back in September 2022, Apple shocked the trading world by suddenly removing MT4 and MT5 from the apps store. This followed a scathing report in Forbes detailing how the MT4 iOS app was being used in a now notorious “pig butchering” scam.
In a statement released on March 6, MetaQuotes – the developers behind MT4 and MT5 – said, “during the lengthy process of restoring the Apps back in the AppStore, MetaQuotes has communicated to Apple extended explanations surrounding operational technicalities and provided further insights as requested. All matters have been resolved, and the iOS applications have been reinstated to the store. Our applications are fully compliant with Apple's requirements.”
While no detail has been forthcoming regarding the “extended explanations surrounding operational technicalities” that convinced Apple to relist the apps, MetaQuotes has radically toughened its requirements for brokers looking to take advantage of MetaQuotes’ white label programme.
Previously, under the MT4 white label programme, new brokers could provide MT4 to clients by piggybacking on established brokers who already had full access to the MT4 servers. This process had little oversight and was a cost-effective route for new brokers and a money-making venture for established brokers.
Since the end of last year, new requirements for white-label brokers include a certificate of incorporation, a register of directors and shareholders, and proof of physical address. New brokers are also required to provide a certified reference letter or bank statement verifying the existence of an active bank account containing the company’s registration number and registered address. The broker’s key representatives must also verify their identity by recording a video of themselves with their passports.
This new policy has been problematic for new brokers setting up in offshore jurisdictions. Still, many industry commentators believe that it may have formed a central part of Apple’s decision to allow the MT4 and MT5 apps back on to the app store.
Whatever the reason, it is essential for MetaQuotes to relist the MT4 and MT5 apps as soon as possible. As of Q2 2022, MT4 and MT5 still dominate the trading platform market share, but there has been plenty of anecdotal evidence of many traders and brokers moving to alternative platforms since the delisting.
It is also welcome news for many traders concerned about being scammed by their MT4/MT5 brokers. MT4’s white label programme has been notorious for many years, and Apple’s ruthless handling of the “pig butchering” scandal has indirectly led to increased security and safety for traders worldwide.
"We are happy that the situation has been resolved and we managed to find an understanding with Apple," Renat Fatkhullin, CEO of MetaQuotes, commented. "Our company respects the requirements of any marketplace and always strives to meet them. We feel responsible to our users and, therefore, we did our best to provide clarifications on the issues raised from Apple in a timely manner. I also want to thank the traders, brokers and media, who actively showed their support."
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Head of Content
Head of Content at FxScouts since 2019, Chris Cammack ensures all content meets our high standards of quality and clarity, shaping editorial guidelines and overseeing broker reviews. Chris brought 10 years of experience in research, editorial, and design for political and financial publications, and has a deep knowledge of international financial markets and geo-politics. He co-hosts the "Let's Talk Forex" podcast with Alison and writes for the news section on a regular basis.
Senior Financial Writer
Alison joined the team as a writer in 2021. She is the Senior Financial Writer for FxScouts. She has a medical degree with a focus on physiotherapy and a bachelor's in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, "Let's Talk Forex", alongside Chris and has produced over 100 Forex educational videos for the FxScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.
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Ida is a financial writer with a degree in Digital Marketing and a strong background in content writing and SEO. Her expertise extends beyond marketing and writing, with a keen interest in cryptocurrencies and blockchain networks. Ida's passion for crypto trading sparked a deeper fascination with Forex technical analysis and price movement. She is continually expanding her knowledge in Forex trading, staying informed about the latest trends and identifying the best trading environments for new traders.
Financial Writer
